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Jaiprakash Associates has executed a definitive agreement with Orient Cement for the sale of its 74% equity stake in Bhilai Jaypee Cement, based on an enterprise value of Rs 1,450 crore.
UltraTech Cement's acquisition of Jaiprakash Associates' cement assets, valued at Rs16,189 crore, is expected to be completed by July 2017. The deal adds 21.2 million tonnes per annum capacity.